TAKE CONTROL OF YOUR FINANCIAL HEALTH
While you are working to keep yourself physically healthy, don’t forget about your financial health. Finances are linked to overall wellness. So, just as you help protect yourself from major health issues, you should help protect your finances in the event of an injury or illness. The article below provides additional insight on the relationship between financial health and your overall health care.
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MIND THE GAP: PROTECT YOUR FINANCIAL FUTURE
There is a link between health and financial well-being. Medical issues are a major cause of bankruptcies in the U.S. each year. Even outside of bankruptcy, about 56 million adults — more than 20 percent of the population between the ages of 19 and 64 — will struggle with health-care-related bills this year.* Having a health plan is an important part of staying financially sound in the case of an unexpected injury or illness.
HAVE A CONTINGENCY PLAN
If you’ve reviewed your health care plan and feel you need additional coverage, supplemental insurance could be beneficial. Supplemental insurance is additional coverage you can purchase to help pay for out-of-pocket expenses that your health insurance may not cover. When you experience lost wages due to health issues and health expenses like deductibles and copayments pile up, supplemental insurance could be one way to help protect your savings and retirement nest egg. But how do you know it will benefit you?
A disability calculator and Life Insurance Needs Survey are helpful resources you can use to get an overview of your potential financial responsibility. There are also prevention tactics you can implement in your day to cater to any possible conditions you may have or may be exposed to given your source of employment. These tools can also help you determine if you need additional coverage.
Your financial wellness is an important part of taking a holistic approach to your overall health. Maintaining healthy finances depends on knowing what you need to protect and how to protect it. Learn all you need to know to help keep your financial future secure.
- *Mangan, Dan. “Biggest Cause of Personal Bankruptcies? Medical Bills.” CNBC, 24 July 2013, www.cnbc.com/id/100840148.